Buy-sell transaction of two Virginia H-D dealerships officially close
Performance Brokerage Services officially announced the sale of a pair of Virginia-based Harley-Davidson dealerships from the estate of Mary Hughes to Michael Veracka of MOD Enterprises.
The buy-sell transaction included Southside Harley-Davidson in Virginia Beach and Hampton Roads Harley-Davidson in Yorktown. Those two dealerships will now be consolidated into Bayside Harley-Davidson in Portsmouth, Virginia.
Powersports Business previously reported on the transaction on Feb. 24, using reports from WAVY and the dealership’s Facebook page as a source. PBS’ latest release confirmed the transaction and included the official buyer and seller.
The previous owner was the late Mary Hughes, who served as president and CEO of Hampton Roads Harley-Davidson for 45 years. The dealership expanded in 1990 after adding Southside Harley-Davidson to its group. Today, the dealerships ranked in the top 1% of all Harley-Davidson dealerships for sales and rank in the top 10% for parts.
The buyer, MOD Enterprises, is the largest Harley-Davidson group in the U.S. and owns Riverside Harley-Davidson, the No. 1 volume Harley dealership in the world — based on new vehicle sales. MOD has earned numerous industry honors, including multiple Bar & Shield Awards, including two Platinum Awards. It has also received Powersports Business Power 50 Awards and Best Place to Work recognition.
Consolidation continues
This latest transaction remains lockstep with Harley-Davidson dealerships’ ongoing market adjustments as retailers evaluate scale, operational efficiencies, and succession planning. Ownership transitions and multistore strategies remain active themes across the Harley-Davidson dealer network.
